Actuarial Analyst
Arch Capital Group · Latham
With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.
SUMMARY
The Actuarial Analyst will work under the supervision of the Managing Actuary. Responsibilities will include technical support to the actuaries such as preparing annual actuarial valuation reports and performing unit-testing to ensure the correctness of isolated codes in the actuarial valuation system. The Actuarial Analyst will also handle technical administrative duties and routine client communications.
ESSENTIAL FUNCTIONS
- Perform valuation duties by developing/maintaining actuarial models; this includes actuarial valuations of Defined Benefit plans, calculations of annual contribution requirements, cost estimates of amending program provisions and preparing annual reports.
- Assist in developing actuarial assumptions, techniques of plan funding, forms of benefit payment, and program provisions.
- Analyze cost drivers and year-over-year trends of Defined Benefit plans; provide proper notification of significant issues that should be brought to the attention of actuaries.
- Produce annual service fee agreements and data request forms aligned with client provisions by developing complex queries, tables, relationships, database objects, module and macro code using MS Access.
- Work with actuaries and other Penflex colleagues for special client or company related projects.
- Take initiative to improve processes and disseminate information and ideas to Penflex management and other staff as needed.
- Continue actuarial education through approved programs and training.
ADDITIONAL RESPONSIBILITIES
- Establishes trusting client relationships and delivers professional and responsive customer service.
- Participates effectively on projects as measured by feedback from others and actual results.
- Establishes respectful working relationships with coworkers.
KNOWLEDGE, SKILLS AND ABILITIES
- Bachelor’s or master’s degree in actuarial science, mathematics, statistics, finance or any other major with significant quantitative course work.
- 0-3 years of pension actuarial background.
- Knowledge of Defined Benefit pension plans and provincial pension and tax legislation.
- Minimum of 3 actuarial exams passed, or 10 years relevant quantitative work experience.
- Significant coursework in Mathematics in Life Contingent Risks is preferred.
- Pursuing actuarial exams with the goal of becoming an ASA or CERA credentials with future goal of becoming FSA preferred.
- Expert proficiency in Microsoft Office Suite; Excellent skills in Visual Basic Application to update macros and Structured Query Language to develop/maintain Access modules are highly preferred.
- Strong skills/experience in long-term actuarial modeling and exploratory data analysis.
- Ability to write/communicate complex actuarial concepts in an understandable manner.
- Ability to manage own workflow.
- High energy with an ability to think clearly under pressure.
- Must be motivated with good oral and written communication skills.
- Dedicated team player, who demonstrates initiative and independence.
- Time management and organizational skills are a must.
For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.
$55,000 - $70,000/year
Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.
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